Another Saudi producer announced September PP, PE offers to Vietnam
Another Saudi producer announced September PP, PE offers to Vietnam
Another Saudi Arabia producer has reportedly opened September shipment offers for both PP and PE to Vietnam with moderate to large reductions compared to last month.
The latest price list and month-on-month changes are shown in the following table:
|
Grade |
Price List on 29 Aug 19 |
Changes |
Term |
|
HDPE film |
$920 |
-$80 |
CIF Vietnam, LC AS |
|
HDPE blow molding |
$930 |
-$60 |
CIF Vietnam, LC AS |
|
LLDPE film |
$900-910 |
-$40-50 |
CIF Vietnam, LC AS |
|
LDPE lamination |
$980 |
-$40 |
CIF Vietnam, LC AS |
|
Homo-PP |
$1030 |
- |
CIF Vietnam, LC AS |
|
PP block copolymer |
$1050 |
-$30 |
CIF Vietnam, LC AS |
|
Combined and reported by CommoPlast |
|
||
The large price cut in HDPE film offers and the minor premium it carries over LLDPE film has highlighted the weak demand condition for this grade. Meanwhile, bids for both cargoes are mostly ranging in the mid- to high- $800/ton.
“We are waiting for the supplier to feedback on the bids. We expect to see some discounts on deals, especially with the current market condition in the nearby China market,” a buyer commented.
In fact, import LLDPE film to China breached below the $850/ton threshold earlier today on the back of the depreciated Chinese Yuan against the US dollar and ballooned supply.